Cookie Preference Centre

Your Privacy
Strictly Necessary Cookies
Performance Cookies
Functional Cookies
Targeting Cookies

Your Privacy

When you visit any web site, it may store or retrieve information on your browser, mostly in the form of cookies. This information might be about you, your preferences, your device or used to make the site work as you expect it to. The information does not usually identify you directly, but it can give you a more personalized web experience. You can choose not to allow some types of cookies. Click on the different category headings to find out more and change our default settings. However, you should know that blocking some types of cookies may impact your experience on the site and the services we are able to offer.

Strictly Necessary Cookies

These cookies are necessary for the website to function and cannot be switched off in our systems. They are usually only set in response to actions made by you which amount to a request for services, such as setting your privacy preferences, logging in or filling in forms. You can set your browser to block or alert you about these cookies, but some parts of the site may not work then.

Cookies used

Performance Cookies

These cookies allow us to count visits and traffic sources, so we can measure and improve the performance of our site. They help us know which pages are the most and least popular and see how visitors move around the site. All information these cookies collect is aggregated and therefore anonymous. If you do not allow these cookies, we will not know when you have visited our site.

Cookies used

Google Analytics

Functional Cookies

These cookies allow the provision of enhance functionality and personalization, such as videos and live chats. They may be set by us or by third party providers whose services we have added to our pages. If you do not allow these cookies, then some or all of these functionalities may not function properly.

Cookies used




Targeting Cookies

These cookies are set through our site by our advertising partners. They may be used by those companies to build a profile of your interests and show you relevant ads on other sites. They work by uniquely identifying your browser and device. If you do not allow these cookies, you will not experience our targeted advertising across different websites.

Cookies used


This site uses cookies and other tracking technologies to assist with navigation and your ability to provide feedback, analyse your use of our products and services, assist with our promotional and marketing efforts, and provide content from third parties


Here are some suggested Connections for you! - Log in to start networking.

Get Your Small Business Finances Organized with These Tips - Finnegan Pierson - Blog

Get Your Small Business Finances Organized with These Tips

Deciding to go into business for yourself is a big decision. There is always a pretty long list of things you need to do or accomplish, which means you’ll find yourself wearing many hats throughout the day. However, if your business isn’t making money, it is nothing more than a hobby.

Now is the time for you to take the time to properly manage and organize your small business finances. This will help contribute to the overall success of your business and ensure you are able to hit your profit goals. Like your personal finances, there are several ways for you to get your business finances organized, and the methods used often depend on your goals.

Keep Track of Your Income  

You need to know what your business makes. You can choose to track your income on a daily, weekly, or monthly basis. Doing this helps you have a better understanding of what you are bringing in.

Sponsor message - content continues below this message

2022 '17th annual' Global Contact Center World Awards NOW OPEN

Enter your Center, Strategy, Technology Innovation, Teams and Individuals into the ONLY TRULY GLOBAL awards program - regarded by many as being like the Olympics for the Contact Center World! Join the best from over 80 nations and compete for the most prestigious awards out there!


Content continues ….

It’s a good idea to use a spreadsheet to keep track of your income. Or, you can invest in software that offers financial records management. The end goal here is to break your income down into categories that represent all the streams of income that your business currently has.

Expense Tracking and Auditing is a Must

If you plan to track your income, you need to make sure you are tracking your expenses, too. All entrepreneurs have certain expenses that must be paid to keep the business running properly. Also, some of the expenses you incur can be deducted from your taxes, which is going to reduce your taxable income. It is also going to reduce how much money you put in your own pocket. This results in most business owners having a lower net income than gross income.

You can easily track your expenses like how you are tracking your income. By doing this, you will also have an easy way to audit these expenses regularly, which means you won’t be overspending on unneeded costs.

Maintain a Separate Business Bank Account

When your business starts to make money, you need to separate your personal and business finances. If you don’t, there’s a good chance you are going to regret it. When tax time rolls around, you are going to wind up getting confused because of how unorganized everything is. It can take you countless hours to get things organized once again.

All this frustration can be avoided if you open a separate bank account for your business. For businesses with an EIN number, you can create a business bank account or if you don’t have an EIN, you can open a separate personal account and use it as your business account.

Make sure that your income filters through the business account and that this is the account you pay all your expenses from. Every month you will get a statement related to your business, making it much easier to keep up with your cash flow.

Take Steps to Protect Your Business

Every business is going to require a certain level of protection. While this is true, you must figure out what is right for you. For some, business insurance is enough. However, for others, it may mean establishing a S-Corp or an LLC, which allows you to separate your business and personal finances.

This is beneficial if you are ever facing legal issues in your business. If this happens, and your finances are separate, then the issues won’t affect your personal property, assets, money, etc. This level of protection is invaluable.

If you want to get your business finances organized and keep them that way, it is important that you use the tips and information found here. Doing so is going to pay off and help ensure your business and personal finances are organized and easy to understand. Being informed is the best way to ensure that your business finances are organized and that you don’t have any financial issues in the future.

Publish Date: January 20, 2020 11:07 PM

About us - in 60 seconds!

Industry Champion Award Leaderboard

Most active award (top 10) entrants in the past 48 hours! - Vote for Others / About Program
Submit Event

Upcoming Events

The most important day of the year for the CC & CX industry in the world!

We are proud to announce the winners of The 2022 '17th Annual' Global Top Ranking Performers Awards, The World's Most Prestigious Awards in the industry! Read More...

Newsletter Registration

Please check to agree to be placed on the eNewsletter mailing list.

Latest Americas Newsletter
both ids empty
session userid =
session UserTempID =
session adminlevel =
session blnTempHelpChatShow =
session cookie set = True
session page-view-total = 1
session page-view-total = 1
applicaiton blnAwardsClosed =
session blnCompletedAwardInterestPopup =
session blnCheckNewsletterInterestPopup =
session blnCompletedNewsletterInterestPopup =